The Power of Incentives
読了時間: 4 分 “Show me the incentives and I will show you the outcome.” – Charlie Munger If there’s one thing I’ve learned since getting into crypto, it’s that incentives drive everything. After all, Bitcoin only works because of the economic incentives that underlie the system. For those who may not know, I’m referring to the coinbase reward that incentivizes miners to expend CPU time and electricity as described in section 6 of the white paper. The point is incentives matter. They influence our behavior in dramatic ways, and without them, who knows where we would be as a species. I’ve recently been able to see first-hand how powerful incentives truly are, and […]